Thoughts and Riches

.....a blog about personal finance, motivational stories, deals, and special offers

Books

Web Domain Registration

Tuesday, March 20, 2007

Breaking out of the cycle of living paycheck to paycheck

Kiplinger.com’s article discusses how to break out of the cycle of living from paycheck to paycheck. So how can some one do it:

- Track expenses in detail to determine where money is going

- Set goals such as saving for house, or retirement. Important thing to keep in mind is that there's difference between needs and wants

- Cut costs such as by raising deductible on insurance, lower credit card interest rate costs, cut down on ATM costs

- Boost income. The article says to look at the possibility of adjusting W4 for the amount of withholding from your paycheck based on any changes that could lead to such an adjustment, as well as contributing pretax dollars to employer-sponsored plans such as flexible spending, and dependent care account. Of course, personally, I think one should do every thing to improve one's skill which could lead to an increase salary at existing or new job.

posted by Ruby @ 5:43 AM

0 Comments:

Post a Comment

<< Home

See important Disclosure and Disclaimer

Favorite Quote

"If you look at what you have in life, you will always have more. If you look at what you do not have in life, you will never have enough".
- Author Unknown

Disclosure

This site uses cookies from companies like Google and others to enable the companies to deliver their services, personalize their ads and product offerings, and for traffic analysis. Information about your use of this site is shared with these companies. By using this site, you agree to its use of cookies. Additionally, this site, including blog posts, may contain reviews, links, banners, text and other forms of advertisements for products, services, courses, and so forth of companies of which we may be an affiliate member or for which we may get paid for referrals. This site may also contain blog posts for which we are paid, as well as blog posts regarding products or services of companies from which we may have received complimentary products or services.

Reward Surveys/Panels/Shopping/Contests